x01a Research Archives

Tracking data appears to show a number of Iran-linked ships passing through the Strait of Hormuz in the hours after the U.S. blockade of the waterway began on Monday.

The U.S. military said its blockade would apply to “all maritime traffic entering and exiting Iranian ports,” but that it would “not impede freedom of navigation for vessels transiting the Strait of Hormuz to and from non-Iranian ports.”

One ship that crossed the strait after the blockade began on Monday – the Christianna – had previously been stopped at the Iranian port of Bandar Imam Khomeini, data shows.

Another ship, the Ladonna, had been at Bandar Imam Khomeini for a week before turning on its transponder Tuesday and journeying into the Persian Gulf.

A further escalation in the Iran war could trigger a global recession, spiralling inflation and a sharp backlash in financial markets, the International Monetary Fund has warned.

Against an increasingly volatile backdrop, the Washington-based fund said the economic damage from the Middle East conflict was steadily rising as it cut its growth forecasts for 2026 based on the impact from the war so far.

In its half-yearly update, the IMF said the UK would suffer the sharpest growth downgrade and joint highest inflation rate in the G7 this year, even if the fallout from soaring energy costs can be contained by the middle of 2026.

However, under a worst-case “severe scenario,” involving a drawn-out war and persistently higher energy prices, it said the world would face “a close call for a global recession” for only the fifth time since 1980.

Oil prices jumped back above $100 (£74) a barrel on Monday amid choppy trading in global markets after crunch weekend talks between the US and Iran ended in stalemate and as a US blockade on the strait of Hormuz began. On Tuesday, Brent crude eased 0.9% to $98.5 a barrel on hopes of further peace talks.